Notification of affordable housing projects enables specified business tax deduction subject to prescribed eligibility, compliance and reporting. Rule 11 OA prescribes the procedure and form (Form No. 3CN) for notification of an affordable housing project as a specified business for entitlement to the tax deduction: application to the Board, deficiency procedure and cure period, powers to seek documents, requirement of hearing before invalidation/rejection/withdrawal, communication of orders, and Board's power to publish or withdraw notification. It sets cumulative eligibility conditions on sanction, commencement, plot size, unit type area percentages, layout approval and project completion timeframe; requires separate project accounts and timely returns; and defines unit categories, rentable area measurement and specified cities.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Notification of affordable housing projects enables specified business tax deduction subject to prescribed eligibility, compliance and reporting.
Rule 11 OA prescribes the procedure and form (Form No. 3CN) for notification of an affordable housing project as a specified business for entitlement to the tax deduction: application to the Board, deficiency procedure and cure period, powers to seek documents, requirement of hearing before invalidation/rejection/withdrawal, communication of orders, and Board's power to publish or withdraw notification. It sets cumulative eligibility conditions on sanction, commencement, plot size, unit type area percentages, layout approval and project completion timeframe; requires separate project accounts and timely returns; and defines unit categories, rentable area measurement and specified cities.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
